Funding Will Support Global Expansion of Company’s TrustTech Solution
LONDON, April 30, 2019 (GLOBE NEWSWIRE) — Vault Platform today announced details of its seed funding round. Led by UK-based Kindred Capital, other investors included Angular Ventures, System.One; Jane VC; and early stage tech investor, Mike Chalfen.
Founded in 2018 by Neta Meidav and Rotem Hayoun-Meidav, Vault is rapidly defining a new category of HR technology known as “TrustTech.” Having identified the lack of adoption and ineffectiveness of old workplace harassment “hotline” systems, Vault designed a sophisticated solution that puts employees at the core. With Vault, enterprise employers gain an end-to-end platform, which consists of an employee app, corporate case management hub, and data and analytics. Vault’s solution supports cultures of trust and diversity while driving out harmful workplace behaviors such as bias and harassment, as well as fraud and corruption, mitigating a great risk for the enterprise.
The employee app creates a safe, diary-like space for employees to create records of misconduct they experience, and Vault’s “GoTogether” feature allows individuals to come forward under the condition they are not the first or only ones raising the complaint. Vault’s technology “connects the dots” on harmful patterns that are observed or impact multiple individuals, helping people overcome the fear of reporting. Vault also helps enterprises identify repeat problems and manage issues internally before they escalate.
Vault Platform has already garnered the attention of major employers, with household names among their clients, as well as an impressive roster of advisors including Harvard Business School workplace culture and trust expert, Professor Frances Frei and industry analyst Josh Bersin.
Professor Frei, a well-regarded top leadership strategist who was hired as Uber’s first SVP of Leadership and Strategy in June 2017, commented, “Healthy organizational cultures start with trust. Vault’s breakthrough platform helps to build trust by embedding empathy and transparency into innovative tools that people can use if they experience workplace misconduct. Vault gives employees total control over their privacy, information and reporting at precisely the moment they need it most.”
Vault’s Co-founder Neta Meidav, who created the solution as a result of personal experience, said, “Instead of merely digitizing old solutions, we’ve developed a powerful tool that can really help employees to overcome the fear of reporting, and inject trust into the workplace. Vault is a trust-enabling, risk-mitigating technology for companies in the self-regulation era. We are thrilled to welcome our investors on this journey and excited about the road ahead – changing work culture, for good.”
Chrys Chrysanthou of Kindred Capital said: “The workplace is ever-changing. The new workforce is demanding an environment where they can be themselves, be treated with equality, dignity, cultural alignment and a place where full transparency exists. Organizations realize that tolerance for misconduct and an environment that doesn’t provide all those opportunities is costly not just in talent terms but also financially. We’re excited to be supporting the amazing team at Vault in delivering a solution to mitigate huge risks for enterprises and one that enables employees to live in a more open workplace.”
Vault will use the funding to scale and expand its presence in North America and Europe. Joining the company’s board will be Chrys Chrysanthou of Kindred Capital.
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